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america. and that we reduce our deficit in a balanced way that allows us to make critical investments. now, it ultimately is going to be up to the voters, to you, which path we should take. are we going to double down on the top down economic policies that helped get us into this mess? or do we embrace a new economic patriotism, that says america does best when the middle class does best? i'm looking forward to having that debate. >> governor romney, two minutes. >> thank you, jim. an honor to be with you and pleased to be with the president. i'm pleased to be at the university of denver, i appreciate the welcome and the presidential commission on these debates. and congratulations to you, mr. president, on your anniversary. i'm sure this is the most romantic place you could imagine, here with me. this obviously is a tender topic. i've had the occasion of meeting people across the country. i was in dayton, ohio and a woman grabbed my arm and said i've been out of work since may. can you help me? and yesterday was at a rally in denver and a woman came up to her with a baby in her arms and s
to handle the economy, mr. romney leads by three. on the deficit, mr. romney leads by nine. on all of these issues, that's the one on which he has the strongest trust from voters as compared with president obama. and that confidence in mr. romney on the deficit turns up not just in the nbc/"wall street journal" poll, but in a lot of national polls. even though he hasn't given a lot of details as to how he would handle the deficit as an issue. the bottom line, there's no question as to who you would rather be here, right? you would rather be president obama than mitt romney looking at these numbers. that plus 19 advantage that the president has on looking out for the middle class, that is a death nail for mr. romney's campaign if he cannot turn that around. but i think looking ahead to tonight's debate, there is a real opportunity in the huge disconnect in the electorate, in a way that reflects a real risk for president obama. there's this huge disconnect between mr. obama's best number with voters and one of his worst numbers. which is that president obama has so far not been able
. >> another hot topic, the deficit. >> it's now four years later, we still have trillion dollar defici deficits. >> $2.50 for every cut, we ask for a dollar of additional revenue paid for as i indicated earlier by asking those of us who have done very well in this country to contribute a little bit more to reduce the deficit. >> there were also some notable exchanges about jobs, health care, energy industry subsidies and regulation, all of these things got deeper than some people had been expecting. we'll talk about those topics with john harwood. but if you were watching, as they headed in a 70% -- >> down from 80 the day before. >> right now it's down to about 66% in trade obviously suggesting romney got a big boost. >> mini flash crash. >> among our political guests this morning ready to talk about the road to election today, arianna huffington will be our guest host. huffington "post" obviously has a left bent, but it was declaring romney won the debate. ken duberstein will join us, as well. >> i was reading some of your tweets last night, john, and i liked your tweet. i tell you w
with a deficit of more of 7% of gross domestic product, any solution to our budgetary problems has to involve spending cuts and tax increases. ronald reagan agreed to tax increases when it hit 4%. george w. bush did when it was 3% of gdp. but today's republican party is organized around the proposition that no matter the circumstances, there must never be a tax increase of any kind. the simpson-bowles proposal calls for $1 for every $3 of spending cut bus every republican presidential candidate during the primaries including romney pledge thad he or she would not accept $10 of spending cuts if that meant $1 of tax increases. so romney could present a serious economic plan with numbers that add up and then he would face a revolt within his own party. so his solution has been to be utterly vague about how to deal with the actually deficit. when pressed for details, he said, the devil's in the details. he's right. were he to get specific he would be committing ideological blasphemy. instead he talks about freedom and capitalism. the same pattern emerges on immigration. he says he wanted to solve
promises. you know, $5 trillion in cuts but it won't add to the deficit, trust me i'll tell you later. eat cake, lose weight. so i don't think he got the game changer he needed tonight. i do think the president was particularly strong, though, in getting governor romney to admit that he does want to turn medicare into a voucher program and i also believe the president was good in drawing the contrast between the two economic approaches, the two economic plans. governor romney believes that tax cuts for the wealthy grow jobs. most of us understand that those sorts of tax cuts are what grow deficits. they don't grow jobs. and president obama and his opportunity economy, i thought that exchange was lucid. i don't think it was a game changer tonight. the president handled himself with a more dignified reserve. when governor romney was tested, he got kind of testy. and i thought that the president maintained his cool throughout and did well. >> what about the president's cool and the president's dignified reserve as you put it, do you think he's going to have to change that style going forward
not cut taxes at all if they added to the deficit at all. now, as "the washington post" reporter checks out, for two years romney has been campaigning on a tax cut that would cost around $5 trillion over ten years. romney said he would eliminate deductions and cut spending to pay for it. he never offers details. he did say he would cut funding for public broadcasting which was 0.01% of federal spending in 2012. medicaid was 0.13%. romney also spoke in favor of regulations including much of the dodd/frank bill and he repeatedly held up as a model his health care plan in massachusetts which has added center the individual mandate and on which obama care is based. romney's transformation did not happen overnight. the candidate has been reworking his stump speech. in a very smart analysis, npr pointed out romney has a five point stump speech. the first four points are actually identical to obama's stump speech. two, domestic energy, three, retraining programs, four, domestic. -- deficit reduction. on five they differ. i've long argued that romney is an intelligent man trapped in a party tha
and is already the raise the state's $8 billion deficit. john kasic joining liz claman coming up. many of my patients still clean their dentures with toothpaste. but they have to use special care in keeping the denture clean. dentures are very different to real teeth. they're about 10 times softer and may have surface pores where bacteria can multiply. polident is designed to clean dentures daily. its unique micro-clean formula kills 99.9% of odor causing bacteria and helps dissolve stains, cleaning in a better way than brushing with toothpaste. that's why i recommend using polident. [ male announcer ] polident. cleaner, fresher and brighter every day. dennis: cisco setting up a race to succeed john chambers for the largest serving silicon valley ceo handles promotions to two key insiders would carry more will be president and chief operating officer of the entire company and sales chief roy lloyd will take the title of president of sales and development. not to worry for shareholders. he will stay in the job two to two more years. dave: of all the silly talk about what caused the financial
the math work on his deficit plan and his tax plan. are we going to get those details in the course of the debate? >> well, you know, david, i wish you guys were just as tough on the president. the president says he's going to create a million new manufacturing jobs. he doesn't say how. he says he's going to reduce the long-term debt and deficit by $4 trillion. doesn't say how he's going to do it. you know, let's be fair here. governor romney has laid out a direction and a vision for the direction of this country. he's not an accountant. he's not going to go line by line as much as you'd like him to do through the budget. but let's hold the president to the same standard and criticize him as well. >>> good morning, it is monday, october 1st. it's october, everybody. welcome to "morning joe." >> yeah, you know who's glad september's over? >> who? >> the jets. holy cow! >> i thought you were going to say mitt romney. with us on set, we have msnbc and "time" senior political editor mark halperin and national affairs editor for "new york" magazine john heilemann. guys. hi, willie. >> he
to start talking about the issues. they're going to start talking about the economy. why the deficit's been above $1 trillion now four years running, and maybe if the moderators get into it, what's happening in the middle east, and what they think they can do about it. i think that governor romney's plan's going to be to try to stick to the substance because i think the country knows we need a change. >> i'm only half joking about kicking out of the room. metaphorically, a lot of republicans want to see mitt romney do just that to the president. they want to see him verbally beat him up and make the points that you've made crystal clear and win the argument. but there's another argument that says that one of mitt romney's problems is he's not likeable enough and he may need to turn on the kind of easy ronald reagan charm which he deployed so successfully in debate. it's a fine line, isn't it, between being hard and aggressive and making a point, but also coming over as likeable. >> right. and piers, really, the way to deal with that, and i think this is true for any debate but especially on
a budget come out that continues to bring the deficit down to sustainable levels. europe has pledged to work in partnership with spain to make sure its banks get recapitalized and continue to afford a access the markets. we will see as they work in the partnerships the days ahead again, they have the tools and we see the political will on the part of the spanish go >> you watch spain, you just got back from china. i have a bunch of questions about china, stories in the paper, lael, in china is the first question, the second question is the republican nominee, mitt romney, has accused the obama administration of not being tough enough on china. the third question you have a report coming out october 15th on whether china is a currency manipulator. what are you going to say? >> well, let me just start with your first question. china's leadership team is undergoing a transition process and confront important questions how they are going to take forward their economic policy. steve, as you know, since day one, president obama's been extremely focused on achieving a more balanced relation
. deficit larry mean that is you are spending more than you are taking in. there are two things that you can do. you have to look at the spending to determine what you have to hold on. you have to set a priority to control spending. in the second thing you must have a program to increase growth in this country and new revenue. that makes a lot of the decisions about spending easier. you get more money coming in. >> president, you have been accused by your critics of failing to deal with entitlement spending reform and basically trying to raise taxes as the only means of deficit spending. are those charges fair? >> absolutely not. we had a deal going. myself and mr. baynor until mr. can toter stepped in. what i could support is that we would have tax cuts and we would have cuts in the budget and in areas certain revenues and increased ed in taxes. it seems fair $1 of tax increases and $3 to $4 of cuts in the budget. >> 3, to $4 to $1. could you guy into that? do you think your fellow republicans could buy into that? >> the more taxes you raise, the less growth you get. that is a economic pro
? >> it's been very damaging. we have seen a trade deficit explode. take auto parts. ten years ago, the trade deficit was $1 billion with china on auto parts. today it's $10 billion. that's why the president at the urging of a number of us, they have taken china to the world trade organization to show china is cheating and to ask for tariffs to protect american companies and to protect american workers. and we're seeing a pattern of the government finally on the side of workers, finally on the side of american manufacturing, standing up for american workers against china. we have a new steel mill. we're seeing jobs actually come to this country or stay in this country because we're standing up and enforcing trade rules. >> romney and the republicans keep talking about another tax cut for the job creators. don't we just see them increasing their profits by outsourcing this way? i mean, the model that romney wants to lay on the country, how could it be good for workers in ohio? >> well, it's not. we tried these tax cuts for the rich. hoping it trickles down to the middle class, it do
the deficit among likely voters for obama from five points to three points. and in florida, he's closed from five down to one which is tied given the margin of error in our poll. in virginia, he has closed the gap from five to two. if you look at the state of ohio, a must-win state for mitt romney, mathematically possible for him to get to it without it but his strategists think he needs it. he needs to make progress there. but the fact that some of the national polls are coming back a little bit, some of the swing state polls are tightening, is a bit of an earn couragement for romney that he still has an opportunity for deficit with three or four points to change the dynamic in some way. he's got to hope that obama is not on his best game. you could have a scenario that like what happened in 2000 where george w. bush moved significantly without gore and ultimately became president. >> it's interesting that the poll also shows, as you mention, this 12% of swingable votes in the middle that he could potentially get a hold of. also ensuring that the big money continues to back him moving forwa
. it wasn't just that this was just the biggest driver of our federal deficit, but it was families who were worried about going bankrupt if they got sick. millions of families all across the country. they had a preexisting condition, they might not be able to get coverage at all. if they did have coverage, insurance companies might impose an arbitrary limit. and so as a consequence, they're paying their premiums, somebody gets really sick, lo and behold, they don't have enough money to pay the bills because the insurance companies say that they've hit the limit. so we did work on this, alongside working on jobs. because this is part of maki sure that middle class families are secure in this country. let me tell you exactly what obama care did. number one, you've got health insurance, it doesn't mean a government takeover. you keep your own insurance. you keep your own doctor. but it does say insurance companies can't jerk you around. they can't impose arbitrary lifetime limits. they have to let you keep your kid on your insurance plan until you're 26 years old. and it also says that you're
. we wanted a menu of thoughtful choices to reduce our deficit and avoid sequestration. >> go through it for us. because, you know, i guess if it were that easy, it would have been a lot simpler getting to the point where we're at. can you talk to us specifics about what you think should be cut? >> sure. that's what we wanted to do in this report. it's more than $100 billion in agriculture, more than $100 billion in energy, and as i said, in agriculture, commodity crop payments, reforming crop insurance. in energy, we'd like to eliminate the entire tight. 17 loan guarantee program which includes the loan guarantee, you know, the program that brought you solyndra. we'd like to eliminate subsidies that have gone to the oldest and most profitable energy sectors, from the intangible drilling costs to the allowance for last in, first out accounting which actually affects more than the energy sector, but it's just a boondoggle for taxpayers in the u.s. it's not something that's allowed by international accounting stanstandards. in the defense sector, there's a real opportunity for savings b
's the question. of course everybody wants a tax cut, but if it's not going to cause bigger deficits, tell us how you're going to do it, and they won't do it. they won't say we're going to get rid of charitable deductions, won't get rid of homeowner, state and local. that's where all the money is. it's not little doodads here. joan, you take this one. he won't tell us. same question comes up wednesday night, can romney dodgeball it? can he say i'm not telling you how i'm going to do the major thing i promised to do, get the economy going through a tax cut, but i'm not going to tell you how i'm going to do it. can he get away with it with even the -- >> i hope not. i think this is a moment for jim lehrer to be very tough, respectful tough, and for president obama to come back at him and to say, look, i'm happy to see -- your running mate said he didn't have enough time on sunday. that's too bad. that's terrible, in fact. i'm willing to cede, governor romney -- >> could jim lehrer get away with simply saying, i have a little liberty here, a little leeway, i will give you all the time it takes. tell
'm sure you didn't miss it. 15-point deficit for mitt romney. i'm guessing you'll argue with some parts. >> i'm not going to argue with it at all. do you really believe it's right? let me test your political wisdom. do you think it's possible for that to be right? you know it's a piece of garb e garbage? >> this is a good pollster, but you can argue that it's not 15%. do you believe mitt romney is behind in new hampshire? >> no, i believe it's head to head in new hampshire. and i've seen enough other polls to tell you that is a piece of garbage. this race in new hampshire will be won by mitt romney by two to three points. i'm willing to say that publically and stick by it and i know that it that poll of 15 points is absolutely invalid. >> every sort of professional poll i have seen of campaigns, though, all seem to have barack obama ahead and the big issue in new hampshire has been the gender gap with moderate women who may be the republicans fiscally but uncomfortable on social issues. you have had to navigate that before. that's always an issue for new hampshire republicans. how does
plan would probably explode the budget deficit. it's not a fiscally responsible plan. >> isn't it true, chris, that he has said he needs to work with congress in terms of going into the specifics of what those loopholes are? >> well, that's true. ultima ultimately, congress, in particular the house ways and means committee, would ultima ultimately write any major tax reform plan. my problem here is tax reform is supposed to be about simplification. i think romney's $17,000 cap would complex complex if i the . that would add a whole bunch of new leans to the 1040, which would make the code more complex. i think we should go to something like the paul ryan house plan he introduced a couple years ago which would eliminate virtually all deductions and credits and use the money to simplify the tax structure down to 10 and 25%. romney needs to be more bold here. his running mate has the bold ideas for tax reform. that's where we should be going here. >> you know, we've had various members of the house ways and means committee on this program in the last six months. almost to the person they
one loophole you'd close, you're not going to run up the deficit or taxes on the middle class. >> very quickly -- >> no, no. it goes back to bill clinton. >> there was a story out yesterday that that claim is fiction because you don't count the loophole closing. >> what loophole? >> he talked about mortgage interest. really quickly -- >> mortgage interest? >> he has never talked about mortgage interest. >> the hilarity that there is one -- >> we have one loophole. >> mike, finish, but then i want to get on to something else. >> the president says he wants to lower tax cuts to big corporations. how to pay for it? loopholes. what loopholes? nothing. we'll tell you after the election. you're attacking romney for the same thing. >> i want to talk about the gas prices. one thing that was striking, speaker gingrich, is what some were arguing about the actual numbers. jack welch made a lot of headlines with a tweet that said, unbelievable jobs numbers. these chicago guys will do anything. can't debate so they change the numbers without any substantiation. he was on "hardball" with chris matth
knew that he was responsible for the deficits elmo has to watch out. >> joining me now nbc's joy read. he is going to cut 1, 100th of 1% of the federal budget by cutting any subsidies that go to pbs, i don't know, i don't think he is going to get to that balanced budget with that. >> i don't think so. but he will stop those socialists muppets. the problem with the idea of cutting such a small piece of the budget with pbs is medicare and medicaid. he said that he would increase military spending so what mitt romney would be left with would be slashing a third of something else. that would be school lunches and veterans benefits. he would have to slash everything else in the budget. >> the politics of it is looney. going after something that is so popular for something that is such a tiny dollar cost it is not in the rounding era margins in the budget it is dangerous. peggy noonan is saying watch out for big bird. mr. romney gave a small difficult to the incumbents i think she is right. joy, this is a bad place for romney to go. >> this was the one bone to romney threw to the far right.
. >> $80 billion? >> it's like 80 build per year. and we need to cut -- close the deficit by a trillion. we got a trillion dollar deficit and it raises like -- i think it's less. maybe 40 billion. >> are you correct, it's not sufficient. >> and he's not talking about anything else. you can keep your entitlement, keep this -- he's not talking about doing specific things with entitlements. >> you're right to this extent. he's not talking specifics on entitlements. >> it's mostly we'll tax rich people so that -- or people that make over 250 and you'll basically get to keep everything including the phones. >> joe, i thought you either wanted to talk about the last minute kick that a billy -- >> i didn't see that. oh, the redskins. >> or my terrific story on debates in the "new york times" this morning. >> it was between piece. it was a very good piece. >> i did see that. >> thank you. let me recap. >> you didn't even mention the bengals beat the redskins. >> i was going to if you brought it up. and congratses on the reds, too. they have tied the nationals for best record in baseball. so we've g
leads according to our poll, on unemployment and the deficit. let me ask you this, ben, because one thing our viewers may assume is that democratic base is now energized and the convention is now partly responsible for that. rece recently, jim -- our new poll, how do you feel strength of support, 72% of voters are strongly excited. that's a virtual tie and extremely or very enthusiastic about voting in november, 65% of republicans. 64% of democrats. does that worry you? in '08, part of the reason the president won was his people were way more enthusiastic than john mccain's. >> we heard enthusiasm on the republicans side last year and now it's down to turn out. people are voting right now. today. they're starting to vote tomorrow this ohio. our supporters are camped out at polling places and thousands more democrats voted in iowa last week than republicans. that's the way we've built this organization on the ground for the past 500 days. we're ip venvesting in a ground organization. >> we'll hit pause there, but going to be talking a lot to both of you in the next 30 some odd days a
looking at it with regard to krugman's piece and something to do with the deficit, is that going to be spun positively if they're working on it or more fearmongering that something really heinous will go down. >> okay. so keep sticking with what's working for now. we'll keep an eye on this. but kevin, thank you. you always keep us up-to-date on everything happening down there. >> one more quick thing i'll say. watch silver. a lot of popularity in it. we didn't get an outright sell signal, but we got very bearish divergences for silver when it made a new high yesterday. trading over $41 on ebay for silver coins. well over the price in the marketplace. so watch out for that. could be an actionable trade. >> okay, kevin. thanks for the tip. >>> if you have any questions, comments about anything you see here, squawk@cnbc.com. coming up, the chicago teachers strike back in the headlines this morning. we'll find out why next. and then ian poulter's in the building. attention golf fans ever where. >> look at that. every player's name. unbelievable. >> got to be careful. >> i don't want
the question about how do you keep the code without increasing the deficit. but it's a promising proposal that tax policy exports like because it is achievable. now, if you lump the deductions together and don't fight them one by one and have a cap, that is easier to get done. >> on that 17,000, a, do you think we're going to hear about it tonight? does that include things like charitable deductions, mortgage deductions? how far do you think that goes? >> reporter: yes, it does. >> 17,000 cap across the board. that is meaningful. that would have a huge impact on the real estate market, it would have a huge impact broadly. >> reporter: yes, i believe from what i was reading yesterday, and i haven't gotten a chance to delve into it that $17,000 level was set purposefully because people in the under $200,000 income category generally speaking don't have more than that, right? but it makes it easier to begin taking on deductions as you move up the scale. so i do think it's positive. i would expect him to get asked about it and, you know, if he starts sketching out a little bit how he would re
record. president arguing romney's plan on taxes and the deficit are the same types of ideas that caused the recession. here's what romney had to say about tackling the ballooning debt. >> i think it's not just an economic issue. i think it's a moral issue. i think it's frankly not moral for my generation to keep spending massively more than we take in, knowing those burdens are going to be passed on to the next generation. and they're going to be paying the interest and the principal ail their lives. and the amount of debt we're adding at a trillion a year is simply not moral. >> jim, that's a message that is probably pretty effective to a middle-income voter in ohio or pennsylvania. but i know last night you were all about the things that were said about coal, things that were said about solar, and there were a million trades in there last night. >> at jim cramer on twitter, i try to come to play with what i can do, which is that if you wanted to know specific stocks to buy off this, of which by the way, there were many, if you felt that obama were to lose and romney to win, this is a
're not happy with the deficit plans, you're not happy with the tax plans. but the thing that really caught my eye because it's the credo of this show. you believe that free market capitalism is the best way to grow the economy. i do too, susan. did that push you toward romney? >> absolutely. i think capitalism is the most efficient genius of american culture. and i feel that the current president doesn't see a problem that a government program can't solve. and i have much more faith in individuals. >> government trickle down. that is what the phrase that romney used. government trickle down zblin deed. >> i thought that was pretty darn clever. steve right here is cringing already about that. but government trickle down, susan. did that turn you off? >> yeah. very much so. and i think it's an accurate reflection of the philosophy of this administration. >> all right. how about the debate? we'll give you a few seconds. debate last night? please, not please? give me a quickie. >> i think you said it best, larry, when you said that the president's clock was politely cleaned. it was very -- it was
, and we lost kind of the jobs at we had created, the budget deficit went up again through the roof, all of those things. but that's why i created also the schwarzenegger institute at usc, so that i can continue on those policies and solve problems in the future, even though i'm out of office. so continuing to be a public servant. >> people have been hard on mitt romney, being rich and successful. what do you think of that? are you surprised that america, the country that gave you the opportunity to become what you are, they would now turn on somebody who has accomplished what they used to call the american dream. >> as you know, john f. kennedy came from a very rich family, but the democrats don't want to talk about that. >> to be honest, i can't take the other side for real. they don't believe that that is a bad thing that he was successful. nor does i think the romney side think sometimes what they accuse obama of. you cannot take this seriously. this is a political year, there's a campaign going on. they will try to do anything they can and especially the other groups out there who p
deficit. >> ted, everybody is lying according to you. $250 million. >> only the republicans. >> auto industry is exceedingly important in the state, but if you look at where ohio has grown in job creation since kasich became governor, it has been in manufacturing. we have had significant growth in jobs. say, 123,000 new jobs. those have not been in the job -- in the auto industry. auto industry has not gone up. so if you look at what kasich has done, he's made a real difference. he has the same philosophy and will do the same thing that mitt romney will do as president. lower taxes, less regulation, balance the budget. these are things that make a difference. the other thing that romney will do that the president is not doing and simply, frankly, is incapable of doing, i served with him for two years in the u.s. senate. nice guy. talented. horribly partisan. what mitt romney will do as president is the same thing that ronald reagan did and, frankly, bill clinton did. hold your principles. be tough. in the end you know you have to negotiate, and that's the only way this country can mo
% say reforming the tax code. 33% say reducing the federal deficit. 6% say health care. 15% say i don't really care. fascinating. >>> let's see what's coming up on street signs. mandy? >> okay. we're going to take a look at why oil prices are dropping for all the wrong reasons on street sign. yeah, we might get cheaper gas eventually, but at what cost to the global economy? >>> then, we're going to debate what is better for your money, an obama win or a romney win. >>> plus, the one thing that wall street wants to hear at tonight's debate. >>> and later on, american airlines says all the seats are fixed. >>> lots of things coming up at the top of the hour. back to you on "power lunch." >>> the world's top asset managers and investors are meeting today to discuss the economic landscape and how to navigate it. our david faber is with them at the barefoot economic summit in larue, texas. >> i've joined by founder, cio of golden tree house and management. they're in bank loans, they're in bond, distressed investments, private equity structured products. credit is the name of the game when
" perhaps that will be embraced. imagine what would happen if we dealt with the budget deficit in a meaningful way and did deal with the issues? one thinks the uncertainty cloud goes away. if it doesn't, there's something else going on. >> i was referring to a sorkin column arguing that a lot of the p.e. firms have to use this money in the next few months. pretty lofty money when you talk about price times, even at dow, right? >> i'm surprised there hasn't been more activity from private equity. they need to put the money to work or god forbid to give it back. that's not something they want to do. they can borrow fairly well. maybe not to the size overall of the deals percentagewise, but incredibly generous terms and we have not seen the kind of deals we may have anticipated. i know andrew wrote about that today. >> i'm pro-law on "mad money" as the large real estate trusts are getting industrial use in warehouses. he said something really interesting, you know what? we are finally running out of space. we are going to have to start building. nobody's building anything. don woo
Search Results 0 to 49 of about 51 (some duplicates have been removed)

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